(1) These Rules apply to proceedings for the winding up of an insurer which commence on or after the date on which these Rules come into force.

(2) These Rules supplement the principal rules and the general regulations which continue to apply to the proceedings in the winding up of an insurer under the 1986 Act as they apply to proceedings in the winding up of any company under that Act; but in the event of a conflict between these Rules and the principal rules or the general regulations these Rules prevail.